ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Acquired by AlphaCentric Advisors LLC

AlphaCentric Advisors LLC increased its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 122.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,000 shares of the biopharmaceutical company’s stock after buying an additional 55,000 shares during the period. ACADIA Pharmaceuticals comprises 1.2% of AlphaCentric Advisors LLC’s portfolio, making the stock its 22nd largest holding. AlphaCentric Advisors LLC owned approximately 0.06% of ACADIA Pharmaceuticals worth $1,625,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ACAD. Norges Bank acquired a new position in ACADIA Pharmaceuticals during the fourth quarter worth approximately $45,187,000. Eventide Asset Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter worth $25,342,000. M&G Investment Management Ltd. acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter worth $10,349,000. M&G Plc acquired a new stake in shares of ACADIA Pharmaceuticals in the first quarter worth $5,622,000. Finally, WCM Investment Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the first quarter worth $5,215,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ:ACAD traded up $0.15 during trading hours on Monday, hitting $16.09. 1,698,153 shares of the company’s stock traded hands, compared to its average volume of 1,808,660. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.55 and a 52 week high of $32.59. The company’s fifty day simple moving average is $16.73 and its two-hundred day simple moving average is $18.02. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -1,594.00 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.02. ACADIA Pharmaceuticals had a negative net margin of 0.21% and a negative return on equity of 0.41%. The company had revenue of $241.96 million during the quarter, compared to analyst estimates of $235.95 million. During the same quarter last year, the firm posted $0.01 EPS. The business’s revenue for the quarter was up 46.4% on a year-over-year basis. On average, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ACAD shares. Robert W. Baird decreased their target price on shares of ACADIA Pharmaceuticals from $31.00 to $28.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 8th. UBS Group decreased their target price on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Bank of America decreased their target price on shares of ACADIA Pharmaceuticals from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Finally, Royal Bank of Canada reduced their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $25.56.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 9,534 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the transaction, the chief operating officer now directly owns 52,177 shares in the company, valued at $797,264.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, COO Brendan Teehan sold 9,534 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $145,679.52. Following the completion of the sale, the chief operating officer now directly owns 52,177 shares in the company, valued at $797,264.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark C. Schneyer sold 9,733 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $148,720.24. Following the sale, the chief financial officer now owns 43,735 shares of the company’s stock, valued at $668,270.80. The disclosure for this sale can be found here. Insiders sold a total of 51,989 shares of company stock worth $793,914 over the last ninety days. 28.30% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.